April Birthstone Report | Pink, Yellow and Rough Diamonds in the News

April 7, 2017April 7, 2017

The Pink Star diamond has been renamed the CTF Pink. Photo Courtesy of Rapaport.com

As most fans of the April birthstone know, the diamond is a symbol of everlasting love. But did you know that the word “diamond” comes from the Greek word “adamas,” which means “invincible”? This week, the Pink Star, a 59.60-carat Fancy Vivid Pink diamond, proved invincible indeed when it broke the world record for the “most expensive jewel ever sold at auction.” After a spirited three-way bidding war at Sotheby’s Hong Kong, the Pink Star sold for a staggering $71.2 million, or $1.2 million per carat.

The Internally Flawless pink diamond was promptly renamed the CTF Pink, celebrating the initials of its new owner, Chow Tai Fook, a Hong Kong-based conglomerate which owns 2,300 jewelry stores. (BTW, if you’re ever in the market for a world-class diamond at auction, remember that naming rights usually accompany your winning bid!)

2 Times a Charm

Fancy Vivid Yellow Diamond Ring. Photo Courtesy of Bonhams.com

This was the Pink Star’s second attempt at breaking the world record. In 2013, Sotheby’s sold the diamond for $83 million to diamond cutter Isaac Wolf, but the transaction collapsed when he defaulted so that record did not stand.

While the Pink Star did not reach its 2013 mark this week, the $71.2 million price tag is now officially in the record books.

Mellow Yellow

Responding to the growing demand for Fancy Color Diamonds, Bonhams auction house will offer an array of yellow diamonds at its New York sale scheduled for April 24. The top lot will be an “old European” Brilliant-cut 6.32-carat Fancy Vivid Yellow diamond, with VVS1 clarity, set in a ring between two Brilliant-cut white diamonds. Originally from a late 19th-century Tiffany & Co. solitaire ring, the yellow diamond is a fine example of turn-of-the-century cutting style. The lot is estimated between $400,000 and $600,000.

A necklace featuring 17 Fancy Yellow diamonds totaling 47.34 carats is also on the block for an estimated $350,000 to $550,000. Each yellow diamond is set in a round Brilliant-cut diamond surround and with a baguette and Brilliant-cut diamond panel.

Rock Tour

The Foxfire Diamond was found under a lake at the Diavik mine in Canada. Photo Courtesy of RioTinto.com.

Direct from the Smithsonian, where it was displayed near the legendary Hope Diamond, the 187-carat Foxfire diamond is going on tour. The strawberry-sized rough stone was unearthed in 2015 at Canada’s Diavik mine and is billed as “North America’s largest known gem-quality uncut diamond.” It is valued at more than $10 million.

Starting this May, the Foxfire diamond will be coming to a city near you as it looks for a buyer, before heading on to Europe and China. We’ll let you know about the diamond’s official schedule as soon as it is posted on FoxfireDiamond.com.